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Tata Steel slumps after reverse turnaround in Q2
Nov 15,2016

The result was announced after market hours on Friday, 11 November 2016. The stock markets were closed on Monday, 14 November 2016, for a public holiday.

Meanwhile, the S&P BSE Sensex was down 358.72 points or 1.34% at 26,460.10

On BSE, so far 6.66 lakh shares were traded in the counter as against average daily volume of 8.96 lakh shares in the past two weeks. The stock hit a high of Rs 417 and a low of Rs 394.15 so far during the day. The stock had hit a 52-week high of Rs 440.90 on 11 November 2016. The stock had hit a 52-week low of Rs 211.30 on 12 February 2016.

The large-cap company has equity capital of Rs 971.22 crore. Face value per share is Rs 10.

Tata Steels total income declined 22.5% to Rs 26602.03 crore in Q2 September 2016 over Q2 September 2015. Other income dropped 97.09% to Rs 231.08 crore in Q2 September 2016 over Q2 September 2015.

Tata Steels consolidated earnings before interest, taxation, depreciation and amortization (EBITDA) fell 8.5% to Rs 2992 crore in Q2 September 2016 over Q2 September 2015. The drop in margins was due to lower realisations in India and ramp-up costs of Kalinganagar. EBITDA rose 66% in Q2 September 2016 over Q2 September 2015 largely due to significant improvement in the operating performance at Tata Steel Europe.

In its outlook for Indian operations, Tata Steel said that a seasonal uptick in demand is expected to be backed by positive variables like 7th Pay Commission disbursements, good monsoons and penetration of organised financing in Tier 2/3 cities. The increase in tariff barriers globally on Chinese steel has opened exports opportunity for Indian steel players which will help the domestic demand supply balance . The recently announced demonetisation is expected to cause short term disruptions. For European operations, Tata Steel said that the European Union economy is expected to grow gradually though UKs growth has been revised downwards following the Brexit referendum result. European steel mills are expected to continue to be under pressure from imports. The weaker pound is expected to improve UKs short-term competitive position, however it will add cost pressure due to higher cost of raw materials purchased in US dollars. For South East Asian operations, Tata Steel said that steel demand in Thailand is expected to maintain its growth rate on the back of expanding government expenditure and progress on infrastructure investment plans. Demand in Singapore is expected to be subdued on continued slower construction sector growth and low downstream spreads. Increasing trade barriers on Chinese steel in countries like Malaysia, Vietnam provides export opportunities.

T V Narendran, Managing Director of Tata Steel India and South East Asia, said that the markets were challenging as strong monsoons affected steel demand across the country while the increase in domestic capacity added to the competitive pressure.

Tata Steel is Europes second largest steel producer, with steelmaking in the UK and Netherlands, and manufacturing plants across Europe. The combined Tata Steel group is one of the worlds largest steel producers.

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Volumes jump at ACC counter
Nov 15,2016

ACC clocked volume of 84.80 lakh shares by 13:24 IST on BSE, a 448.40-times surge over two-week average daily volume of 19,000 shares. The stock fell 2.50% to Rs 1,363.45.

Ambuja Cements notched up volume of 4.45 crore shares, a 221.22-fold surge over two-week average daily volume of 2.01 lakh shares. The stock fell 3.53% to Rs 211.70.

Future Lifestyle Fashions saw volume of 9.53 lakh shares, a 132.43-fold surge over two-week average daily volume of 7,000 shares. The stock fell 5.55% to Rs 120.80.

INOX Leisure clocked volume of 4.09 lakh shares, a 27.86-fold surge over two-week average daily volume of 15,000 shares. The stock fell 1.81% to Rs 233.50.

Astral Poly Technik saw volume of 1.49 lakh shares, a 27.07-fold rise over two-week average daily volume of 6,000 shares. The stock fell 5.09% to Rs 394.70.

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MOIL slides after poor Q2 financials
Nov 15,2016

The result was announced on Monday, 14 November 2016, when the stock markets were closed for a public holiday.

Meanwhile, the BSE Sensex was down 366.43 points, or 1.37%, to 26,452.39

On BSE, so far 48,000 shares were traded in the counter, compared with average daily volume of 2.05 lakh shares in the past two weeks. The stock hit a high of Rs 326 and a low of Rs 310.65 so far during the day. The stock hit a 52-week high of Rs 387.90 on 2 November 2016. The stock hit a record low of Rs 180.10 on 12 February 2016.

The mid-cap company has equity capital of Rs 133.19 crore. Face value per share is Rs 10.

MOIL produces and sells different grades of manganese ore. Government of India currently holds 75.58% stake in MOIL (as per the shareholding pattern as on 11 October 2016).

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Divis Lab drops after poor Q2 result
Nov 15,2016

The result was announced on Saturday, 12 November 2016. The stock markets were closed on Monday, 14 November 2016, for a public holiday.

Meanwhile, the BSE Sensex was down 412.89 points, or 1.54%, to 26,405.93

On BSE, so far 34,000 shares were traded in the counter, compared with an average volume of 19,000 shares in the past two weeks. The stock hit a high of Rs 1,201.05 and a low of Rs 1,111 so far during the day. The stock hit a record high of Rs 1,380 on 16 September 2016. The stock hit a 52-week low of Rs 918.10 on 29 February 2016.

The large-cap company has an equity capital of Rs 53.09 crore. Face value per share is Rs 2.

Divis Laboratories paid a one time ex-gratia of Rs 79 crore in Q2 September 2016 to the employees and whole-time directors on the occasion of completion of 25 years of formation of the company. Forex loss amounted to Rs 11 crore in Q2 September 2016 as against a gain of Rs 12 crore in Q2 September 2015, Divis Laboratories said.

Divis Laboratories is primarily engaged in the manufacture of active pharmaceutical ingredients (APIs) & intermediates for generics, custom synthesis of APIs and advanced intermediates for discovery compounds for pharma giants, building blocks for peptides, building blocks for nucleotides, carotenoids and chiral ligands.

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Hindalco Industries hits 52-week high after strong Q2 earnings
Nov 15,2016

The result was announced on Saturday, 12 November 2016. The stock markets were closed on Monday, 14 November 2016, for a public holiday.

Meanwhile, the S&P BSE Sensex was down 375.78 points or 1.4% at 26,443.04

On BSE, so far 12.41 lakh shares were traded in the counter as against average daily volume of 19.92 lakh shares in the past two weeks. The stock hit a high of Rs 180.50 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 173.10 so far during the day. The stock had hit a 52-week low of Rs 58.85 on 12 February 2016.

The large-cap company has equity capital of Rs 206.52 crore. Face value per share is Re 1.

Hindalco Industries said that in aluminium segment, the company delivered robust operational performance in Q2 September 2016 in a challenging macroeconomic environment on the back of efficiency gains and lower input costs. Improved visibility over coal sourcing and cost and major portion of requirement secured through linkages, Hindalco Industries said. In copper segment, copper performance rebounded strongly in Q2 September 2016 post successful completion of planned maintenance shutdown.

Aluminium production increased 19% to 321 KT (Kilo Tonne) in Q2 September 2016 over Q2 September 2015, significant cost efficiencies achieved across the plants. Inputs costs were largely supportive though crude derivative prices hardened sequentially, Hindalco Industries said. Aluminium Value Added Products (FRP and Extrusions) rose 8%, Wire Rod Production increased 36% reflecting the companys focus on power and other growth sectors, Hindalco Industries said. The company delivered highest ever quarterly copper production at 106 KT, after successful planned annual maintenance shutdown. Improved efficiencies helped offset sharp decline in sulphuric acid prices, the company said. Revenues for Q2 September 2016, were broadly stable, as the impact of higher aluminium revenues was largely negated by a sharp decline in copper realisation, it added. Following a notification issued by the Ministry of Coal making applicability of contribution to District Mineral Foundation effective retrospectively from 12 January 2015, a one-time provision of Rs 60 crore has been made during Q2 September 2016 and is included in exceptional items.

Hindalco Industries said that the macroeconomic headwinds still persist and the uncertain global macro factors pose several challenges. The price recovery is vulnerable to imminent Chinese capacity additions and smelter restarts. The high level of imports continue to impact domestic sales volumes. Hindalco remains focussed on operational excellence, higher value addition, customer centricity and cash conservation to tide over these issues, the company said.

Hindalco Industries board of directors approved raising of long term finance by way of public or private offerings through equity or equity-linked instruments on preferential allotment basis through Qualified Institutional Placement, Rights Offer, Global Depository Receipts, American Depository Receipts and Foreign Currency Convertible Bonds of up to Rs 5000 crore.

A part of the Aditya Birla Group, Hindalco Industries is the worlds largest aluminium rolling company and one of the biggest producers of primary aluminium in Asia. Its copper smelter is amongst the largest single location custom smelter globally.

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Corporation Bank vaults after decent Q2 results
Nov 15,2016

The result was announced on Monday, 14 November 2016, when the stock market was closed for a public holiday.

Meanwhile, the BSE Sensex was down 375.96 points, or 1.40%, to 26,442.86.

On BSE, so far 4.77 lakh shares were traded in the counter, compared with average daily volume of 65,560 shares in the past one quarter. The stock hit a high of Rs 47.80 so far during the day, matching the stocks 52-week high level. The stock hit a low of Rs 44.40 so far during the day. The stock hit a 52-week high of Rs 47.80 on 9 September 2016. The stock hit a 52-week low of Rs 30.75 on 25 February 2016. The stock had outperformed the market over the past 30 days till 11 November 2016, rising 2.31% compared with the 2.98% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 3.82% as against Sensexs 4.74% decline.

The mid-cap company has equity capital of Rs 229.41 crore. Face value per share is Rs 2.

Corporation Banks gross non-performing assets (NPAs) stood at Rs 15611.06 crore as on 30 September 2016 as against Rs 15726.12 crore as on 30 June 2016 and Rs 7729.07 crore as on 30 September 2015. The ratio of gross NPAs to gross advances stood at 10.81% as on 30 September 2016 as against 11.01% as on 30 June 2016 and 5.32% as on 30 September 2015. The ratio of net NPAs to net advances stood at 6.91% as on 30 September 2016 as against 7.22% as on 30 June 2016 and 3.54% as on 30 September 2015. The banks provisions and contingencies (excluding tax provisions) rose 46.66% to Rs 826.80 crore in Q2 September 2016 over Q2 September 2015. Provision coverage ratio of the bank was at 57.39% as on 30 September 2016.

Government of India holds 70.765% stake in Corporation Bank (as on 30 September 2016).

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Aurobindo Pharma drops in volatile trade after announcing Q2 result
Nov 15,2016

The result was announced on Monday, 14 November 2016, when the stock market was closed for a public holiday.

Meanwhile, the S&P BSE Sensex was down 375.62 points or 1.4% at 26,443.20

On BSE, so far 1.11 lakh shares were traded in the counter as against average daily volume of 2.41 lakh shares in the past two weeks. The stock was volatile. The stock hit a high of Rs 792 and a low of Rs 738 so far during the day. The stock had hit a record high of Rs 895 on 6 October 2016. The stock had hit a 52-week low of Rs 582 on 25 February 2016.

The large-cap company has equity capital of Rs 58.52 crore. Face value per share is Re 1.

Aurobindo Pharmas consolidated earnings before interest, taxation, depreciation and amortization (EBITDA) before forex rose 19.3% to Rs 929.20 crore in Q2 September 2016 over Q2 September 2015. Consolidated EBITDA margin expanded to 24.6% in Q2 September 2016 from 23.1% in Q2 September 2015. Formulations business rose 12.4% to Rs 3004 crore in Q2 September 2016 over Q2 September 2015. API business rose 11.3% to Rs 7688 crore in Q2 September 2016 over Q2 September 2015.

N. Govindarajan, Managing Director, Aurobindo Pharma said that the company witnessed satisfactory quarter on a year on year basis with enhanced cost efficiencies. The company continues to invest for long term growth by creating niche, differentiated products using newer technologies, Aurobindo Pharma said.

Aurobindo Pharma manufactures generic pharmaceuticals and active pharmaceutical ingredients. The companys manufacturing facilities are approved by several leading regulatory agencies like US FDA, UK MHRA, EU, Japan PMDA, WHO, Health Canada, South Africa MCC, Brazil ANVISA. The companys robust product portfolio is spread over 6 major therapeutic/product areas encompassing Antibiotics, Anti-Retroviral, CVS, CNS, Gastroenterological, Pain management and Anti-Allergic, supported by an outstanding R&D set-up. The company is marketing these products globally in over 150 countries

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Bank of Baroda spurts after robust Q2 numbers
Nov 15,2016

The result was announced after market hours on Friday, 11 November 2016.

Meanwhile, the BSE Sensex was down 410.69 points, or 1.53%, to 26,408.13.

On BSE, so far 12.96 lakh shares were traded in the counter, compared with average daily volume of 10.87 lakh shares in the past one quarter. The stock hit a high of Rs 175.35 and a low of Rs 166 so far during the day. The stock hit a 52-week high of Rs 182.45 on 30 November 2015. The stock hit a 52-week low of Rs 109.45 on 12 February 2016. The stock had outperformed the market over the past 30 days till 11 November 2016, rising 4.15% compared with the 2.98% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 7.60% as against Sensexs 4.74% decline.

The large-cap state-run bank has equity capital of Rs 460.83 crore. Face value per share is Rs 2.

The banks gross non-performing assets (NPAs) stood at Rs 42949.25 crore as on 30 September 2016 as against Rs 42991.68 crore as on 30 June 2016 and Rs 23710.33 crore as on 30 September 2015.

The ratio of gross NPAs to gross advances stood at 11.35% as on 30 September 2016 as against 11.15% as on 30 June 2016 and 5.56% as on 30 September 2015.

The ratio of net NPAs to net advances stood at 5.46% as on 30 September 2016 as against 5.73% as on 30 June 2016 and 3.08% as on 30 September 2015.

The banks provisions and contingencies (excluding tax provisions) fell 5.07% to Rs 1795.84 crore in Q2 September 2016 over Q2 September 2015.

Provision coverage ratio of the bank was at 62.95% as on 30 September 2016.

Government of India holds 59.23% stake in Bank of Baroda (as on 30 September 2016).

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Tata Motors drops despite declaring turnaround Q2 results
Nov 15,2016

The result was announced on Monday, 14 November 2016, when the stock market was closed for a public holiday.

Meanwhile, the S&P BSE Sensex was down 245.98 points or 0.92% at 26,572.84

On BSE, so far 1.49 lakh shares were traded in the counter as against average daily volume of 6.49 lakh shares in the past two weeks. The stock hit a high of Rs 486.70 and a low of Rs 473.10 so far during the day. The stock had hit a 52-week high of Rs 598.60 on 7 September 2016. The stock had hit a 52-week low of Rs 266 on 11 February 2016.

The large-cap company has equity capital of Rs 577.44 crore. Face value per share is Rs 2.

Tata Motors total income rose 7% to Rs 66106.96 crore in Q2 September 2016 over Q2 September 2015. Tata Motors said that in Jaguar Land Rover (JLR) business, strong sales were seen in all the regions UK, Europe, North America, China and other overseas markets. In standalone business, the demand pause in medium and heavy commercial vehicle (M&HCV) partially offset by continued growth in the domestic light commercial vehicle (LCV) segment, car segment and exports, Tata Motors said.

Tata Motors consolidated profit before tax (before exceptional item) dropped 17.46% to Rs 983 crore in Q2 September 2016 over Q2 September 2015 broadly due to higher volumes and favourable operating exchange, in Jaguar Land Rover business more than offset by the realized hedging losses of Rs 3510 crore, and adverse commodity derivatives impact of Rs 187 crore.

After the exceptional items, the consolidated profit before tax was Rs 999 crore in Q2 September 2016, against loss before tax of Rs 2150 crore in Q2 September 2015, which included exceptional items of Rs 2493 crore on account of the vehicles damaged at Tianjin Port explosion in Jaguar Land Rover business.

Tata Motors sales (including exports) of commercial and passenger vehicles rose 6.1% to 1.34 lakh units in Q2 September 2016 over Q2 September 2015.

Tata Motors is a market leader in commercial vehicles in India. The companys British unit JLR sells premium luxury cars.

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BPCL slips despite declaring good Q2 results
Nov 15,2016

The result was announced after market hours on Friday, 11 November 2016.

Meanwhile, the S&P BSE Sensex was down 205.20 points or 0.77% at 26,613.62

On BSE, so far 9,180 shares were traded in the counter as against average daily volume of 79,000 shares in the past two weeks. The stock hit a high of Rs 652.15 and a low of Rs 640.05 in intraday trade. The stock had hit a record high of Rs 694.75 on 18 October 2016. The stock had hit a 52-week low of Rs 366.10 on 23 February 2016.

The large-cap company has equity capital of Rs 1446.17 crore. Face value per share is Rs 10.

BPCLs average gross refining margin (GRM) rose to $4.56 per barrel in Q2 September 2016 over $3.08 per barrel in Q2 September 2015.

Seperately BPCL after market hours on Friday, 11 November 2016 announced formation of Joint Venture with GAIL Gas for a City Gas Distribution (CGD). Consortium of BPCL and GAIL Gas has been awarded the authorization for laying, building, operating and expanding of a City Gas Distribution Network (CGD Network) in the geographical area of North Goa by the Petroleum and Natural Gas Regulatory Board established under the PNGRB Act, 2006. The board of directors of the company has approved the proposal to form a new Joint Venture Company (JVC) for this purpose, BPCL said. The proposed JVC shall have equal equity participation from BPCL and Gail Gas and with a provision for equity stake of up to 10% for government of Goa or its nominee. The authorization provides exclusively for laying gas pipelines and related infrastructure in the GA over the next 25 years and a marketing exclusivity for 5 years. The CGD Network shall cater to the demand of CNG and Piped Natural Gas to consumers in the domestic, commercial and industrial segments.

BPCL is a state-run oil refining-cum-marketing company. The Government of India currently holds 54.93% stake in BPCL (as per the shareholding pattern as on 30 September 2016).

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Apollo Hospitals slides after reporting marginal rise in profitability in Q2
Nov 11,2016

The result was announced during market hours today, 11 November 2016.

Meanwhile, the S&P BSE Sensex was down 723.39 points or 2.63% at 26,794.29.

On BSE, so far 20,000 shares were traded in the counter as against average daily volume of 12,000 shares in the past two weeks. The stock hit a high of Rs 1,315 and a low of Rs 1,261.80 so far during the day. The stock had hit a 52-week low of Rs 1,212 on 9 November 2016. The stock had hit a record high of Rs 1,544 on 2 March 2016.

The large-cap company has equity capital of Rs 69.56 crore. Face value per share is Rs 5.

Apollo Hospitals is one of Asias largest healthcare groups.

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Ipca Laboratories nudges up after posting stellar Q2 results
Nov 11,2016

The result was announced during market hours today, 11 November 2016.

Meanwhile, the S&P BSE Sensex was down 632.94 points or 2.3% at 26,884.74.

High volumes were witnessed on the counter. On BSE, so far 1.05 lakh shares were traded in the counter as against average daily volume of 34,209 shares in the past one quarter. The stock hit a high of Rs 618 and low of Rs 575 so far during the day. The stock had hit a 52-week high of Rs 888 on 19 August 2015. The stock had hit a 52-week low of Rs 402 on 6 June 2016. The stock underperformed the market over the past one month till 10 November 2016, declining 4.47% compared with 2.01% fall in the Sensex. The scrip however outperformed the market in past one quarter, gaining 17.96% as against Sensexs 0.93% fall.

The mid-cap company has equity capital of Rs 25.24 crore. Face value per share is Rs 2.

Ipca Laboratories earnings before interest, tax, depreciation and amortization (EBITDA) margin rose to 14.68% in Q2 September 2016 from 11.25% in Q2 September 2015. The companys Indian formulations income rose 23% to Rs 404.36 crore in Q2 September 2016 over Q2 September 2015. Exports income rose 10% to Rs 410.34 crore in Q2 September 2016 over Q2 September 2015.

Ipca Laboratories is vertically integrated and produces finished dosage forms and active pharmaceuticals ingredients.

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Alkem Lab declines as bottom line growth lags growth in top line in Q2
Nov 11,2016

The result was announced during market hours today, 11 November 2016.

Meanwhile, the S&P BSE Sensex was down 592.75 points or 2.15% at 26,924.93.

On BSE, so far 12,000 shares were traded in the counter as against average daily volume of 5,704 shares in the past two weeks. The stock hit a high of Rs 1,680 and a low of Rs 1,568.20 so far during the day. The stock had hit a record high of Rs 1,852.95 on 29 September 2016. The stock had hit a record low of Rs 1,175 on 2 May 2016.

The large-cap company has equity capital of Rs 23.91 crore. Face value per share is Rs 2.

The companys earnings before interest, taxation, depreciation and amortization (EBITDA) rose 21.5% to Rs 310.50 crore in Q2 September 2016 over Q2 September 2015. EBITDA margin improved to 18.9% in Q2 September 2016, from 18.5% in Q2 September 2015.

Commenting on the companys performance, Prabhat Agrawal, CEO, Alkem, said the company has delivered a robust growth in its India business largely driven by strong execution of its market strategies. The companys international business too delivered a healthy growth during the quarter mainly driven by its US business, he said. Alkems ongoing efforts towards margin improvement also are yielding results as evident from year on year (YoY) improvement in its gross and EBITDA margins despite the regulatory price cuts, Agrawal said. Alkem looks forward to build on this momentum, he added.

Alkem Laboratories is a pharmaceutical company with global operations, engaged in the development, manufacture and sale of pharmaceutical and nutraceutical products.

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M&M extends losses on plans of subscribing to proposed rights issue of subsidiary
Nov 11,2016

The announcement was made during market hours today, 11 November 2016.

Meanwhile, the S&P BSE Sensex was down 519.96 points or 1.89% at 26,997.72.

More than usual volumes were witnessed on the counter. On BSE, so far 2.28 lakh shares were traded in the counter as against average daily volume of 67,127 shares in the past one quarter. The stock hit a high of Rs 1,318 and a low of Rs 1,285 so far during the day. The stock had hit a record high of Rs 1,508.80 on 9 August 2016. The stock had hit a 52-week low of Rs 1,092 on 12 February 2016. The stock underperformed the market over the past one month till 10 November 2016, declining 4.12% compared with 2.01% fall in the Sensex. The scrip also underperformed the market in past one quarter, shedding 8.74% as against Sensexs 0.93% fall.

The large-cap company has equity capital of Rs 310.55 crore. Face value per share is Rs 5.

M&M said that the board of directors of the company approved investment of an amount not exceeding Rs 165 crore, in one or more tranches by subscribing to the proposed rights issue of Mahindra Lifespace Developers (MLDL). MLDL, a listed subsidiary of M&M on 27 October 2016 had said that its board approved raising funds by rights issue aggregating to Rs 300 crore.

Shares of MLDL shed 1.89% to Rs 406.45.

Separately, M&Ms net profit rose 27.08% to Rs 1163.27 crore on 16.98% rise in total income to Rs 12071.13 crore in Q2 September 2016 over Q2 September 2015. M&Ms combined net profit of M&M and Mahindra Vehicle Manufacturers Limited (MVML) rose 29% to Rs 1253 crore on 18% increase in gross revenue and other income to Rs 12049 crore in Q2 September 2016 over Q2 September 2015. The result was announced during market hours today, 11 November 2016.

MVML was set up as a 100% subsidiary of M&M with a view to sourcing contemporary products for expanding the market offerings of the company. Hence it is a critical part of M&Ms business and only the combined results of M&M and MVML (combined entity) can provide a comprehensive view of the companys performance.

M&M in its outlook said that Indias macro economic story is slowly but surely taking shape although data on industrial production and slow trade growth continued to act as ceilings to Indias growth. The IMF avers that in the current n++ and projected n++ global scenario, India will continue to standout with the fastest growth rate. And this prognosis is not without reason. After two years of sub-par rainfall, this years monsoon has been abundant and well spread which will help revive farm income and push up private consumption. The first advance estimates released by the agriculture ministry for kharif crops this year suggests a record output, higher by 9%. Higher soil moisture due to good monsoon also augurs well for the Rabi crop. Higher crop output will help improve spends on agri-inputs and services. Moreover, prices of key agricultural inputs have stabilized which signals that farmer balance sheets are on the mend now and this will help revive the overall rural economy.

Importantly, there is discernible traction on reforms including GST which augurs well for Indias growth trajectory. Moreover, there are signs of demand recovery manifesting through broader consumption pick-up in growth rates in automobile sales, air passenger traffic and retail loans. The Seventh Pay Commission and the OROP scheme award has put money in the pockets of government employees and pensioners which will further help demand. The lagged effects of interest rate cuts by the Reserve Bank of India (RBI) along with the increased transmission of lower interest rates will also be supportive of consumption. All of these bode well for broad-based consumption led growth in the coming quarters, M&M added.

M&M enjoys a leadership position in tractors and utility vehicles in India.

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Volumes jump at Apcotex Industries counter
Nov 11,2016

Apcotex Industries clocked volume of 7.73 lakh shares by 14:06 IST on BSE, a 160.25-times surge over two-week average daily volume of 5,000 shares. The stock rose 1.66% at Rs 333.90.

Bata India notched up volume of 2.61 lakh shares, a 8.79-fold surge over two-week average daily volume of 30,000 shares. The stock was down 5.85% at Rs 434.65.

Greenlam Industries saw volume of 1 lakh shares, a 6.67-fold surge over two-week average daily volume of 15,000 shares. The stock tumbled 5% at Rs 698.

Pidilite Industries clocked volume of 1.90 lakh shares, a 4.27-fold surge over two-week average daily volume of 44,000 shares. The stock was down 4.04% at Rs 640.70.

Yes Bank saw volume of 7.53 lakh shares, a 3.7-fold rise over two-week average daily volume of 2.03 lakh shares. The stock tumbled 5% at Rs 1,226.20.

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